Mentors are incredibly important. Patrick Lausen is lucky to have four of them, and he credits them heavily for helping him ascend the ranks of corporate America through his 13-year industry career. Being able to have people like that in your corner is important; not taking them for granted is even more important. For that, Patrick earns double bonus points. Read on to learn who he has to thank for getting him to where he is, how his daughters are on to him, and why we may one day lose him to rugby.
Name: Patrick Lausen
Company: Convergence Acquisitions, LLC
Length of time at current company: One year, two months
Length of time in industry: 13 years
How did you get your start in the industry?
Initially, I started as a collector while I was still an undergraduate student for Charlie Litow, a collections Attorney. Following graduation, I took on the role of Internal Auditor/Compliance Manager for his law firm.
What is your career highlight so far?
Most who know me would assume it would have been becoming managing member of my organization. After some reflection, I think it comes down to some of things I accomplished early on in my career, specifically “rehabbing” poor client relationships with the law firm and turning them into very productive ones. Overcoming those obstacles early on in my professional career gave me confidence to feel comfortable taking on large and complex tasks, and that confidence is what allowed me to get on the trajectory I am on today.
Which industry professional do you admire most?
I don’t know that I have one honestly, I believe it takes a village, and during my formative years I’ve had the opportunity to work with many incredible professionals. However, I’ve had four very active mentors throughout the last 13+ years; Charlie Litow, Martin Stout, Burton “Chip” Stacy, and Adam Parks. These four all took interest in me from day 1, and have allowed me to lean on them for guidance as I grew from a collector into a business owner. To this day, I reach out to the four of them when I have to make a major decision, business or otherwise. However, if I had to choose only one, Charlie would be it, he has done more for me than anyone could reasonably expect. I am very proud to have come from his “coaching tree” in the collection industry.
What is one thing you do better than everyone else?
I don’t fear failure, and I don’t dwell on mistakes. I believe life is about trial and error, and in life you won’t always win. I strongly believe there are no losses, only lessons.
When or how are you most productive?
Friday nights, when I’m the only person left in the office.
What do you like most about this industry?
The people and professionals I interact with. I rarely meet someone who isn’t willing to lend a hand.
What is one thing you wish you could change about this industry?
Technology. Simply put our industry is behind the times. Our consumers have become accustomed to dynamic technology to manage their debts with originators, and the collection industry is doing a disservice to them by making them communicate with us in an archaic method. We should be allowed to adapt to consumers preferred communication method. However, today we understand regulation and risk aversion makes that a difficult trail to blaze.
If you weren’t in this industry, what would you be doing?
I would be more involved with rugby. I currently play for a local senior club and serve as the club’s president. I am the head coach of a state runner-up high school team, and the vice president of the Iowa Rugby Union. I would hope that, in lieu of working in the industry, I could figure out a way to be involved with rugby full time. It’s my passion and have been able to create so many great memories and incredible relationships over the years.
Describe a typical work day.
There really isn’t a typical day. Most days I wake up, log in from home to get a read on the day while I drink my first 1-to-3 cups of coffee. Then I go to work to win the day!
What is your guilty pleasure?
Reese’s Peanut Butter Cups. Unfortunately, my two daughters are wise enough to preemptively hide those after trick or treating.
What is the best advice you’ve ever received?
Seek out other people’s advice and input on important decisions.
What are you currently reading?
Nothing. I would like to have the opportunity to read books, but at this point there aren’t enough hours in the day. Setting aside time to read is a personal goal of mine.
What is one fact you’d like everyone in the industry to know about you?
Two seasons ago I coached a high school rugby team to a fourth-place finish in the state, last season we were second. This year we are coming in first!
Who else would you like to see answer these questions?
Burton Stacy, Adam Parks
